Who has the most millionaires per capita in US?

The States with the Highest Concentration of Millionaires in the US

The distribution of wealth in the United States varies significantly by region. Certain states have emerged as hubs of affluence, attracting and retaining high-net-worth individuals. According to data from the 2020 Census Bureau’s American Community Survey, the states with the highest concentrations of millionaire households per capita are:

1. Washington

With a millionaire household ratio of 8.2%, Washington ranks first in the nation. The state’s thriving tech industry, particularly in the Seattle area, has contributed to its high concentration of wealth.

2. New York

New York, home to the financial capital of the world, boasts a millionaire household ratio of 7.6%. The state’s diverse economy, including industries such as finance, technology, media, and real estate, has fostered the growth of ultra-wealthy individuals.

3. Colorado

Colorado’s stunning natural beauty, combined with a strong economy and a thriving tech scene, has attracted many affluent households. The state’s millionaire household ratio stands at 7.2%.

4. Minnesota

Minnesota’s strong economic fundamentals, including a robust healthcare industry and a highly educated workforce, have contributed to its growing wealth concentration. The state’s millionaire household ratio is 7.1%.

These four states represent significant pockets of wealth within the United States. The high concentration of millionaire households in these areas reflects a combination of economic vitality, attractive lifestyles, and a favorable tax climate. However, it is important to note that wealth inequality remains a challenge in the US, with significant disparities in income and asset distribution across the nation.